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Crude futures rise after U.S. refinery explosion
Saudi Press Agency Published in Saudi Press Agency on 13 - 03 - 2005


Crude futures rose Thursday, as
concerns about an explosion at America's third-largest oil
refinery overrode the bearish pull of U.S. figures showing
a huge increase in crude inventories.
Light, sweet crude for May delivery was up 11 cents to
US$53.92 a barrel by late morning in Europe in electronic
trading on the New York Mercantile Exchange. The benchmark
commodity had dropped US$2.22 on Wednesday after the
inventory data was released but before the explosion.
Heating oil rose less half a cent to US$1.5390 a gallon
(3.8 liters).
Brent crude, meanwhile, was up 24 cents to US$53.28 a
barrel on the International Petroleum Exchange.

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